Toshiba to post 100 billion yen loss on HD-DVD business

ChrisOliver

HONG KONG (MarketWatch) -- Toshiba Corp.
6501, -1.49%
will take a charge of up to 50 billion yen ($493 million) to discontinue its HD-DVD business and will see total year losses of up to 100 billion yen on the failed technology in the fiscal year ending March 31, according to a published report Thursday. The electronics conglomerate is likely to fall short of its 180 billion yen net profit forecast for the current fiscal year owing to the failure of the HD-DVD format and poor performance in its electronic devices and components unit owing to falling prices for memory chips and other devices, the Nikkei business daily reported, without citing its source. Expenses related to the closure of assembly lines for HD-DVD players and other restructuring costs will amount to 50 billion yen and be booked as a non-operating loss. Toshiba is likely to post an operating profit of 250 billion yen in the current fiscal year, about 40 billion yen shy of its initial forecast, the report said

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